Automatic Data Processing, Inc. $ADP Holdings Decreased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 31,647 shares of the business services provider’s stock after selling 4,509 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Automatic Data Processing were worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Polaris Financial Partners purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC raised its holdings in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $1.02 during trading hours on Monday, hitting $258.70. 445,595 shares of the stock traded hands, compared to its average volume of 2,917,210. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $293.51. The stock has a 50 day moving average price of $271.90 and a 200 day moving average price of $237.76. The company has a market cap of $102.51 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the company posted $2.26 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at $5,324,744.88. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 in the last 90 days. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Guggenheim lifted their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, TD Cowen upped their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.